Here are a few other reasons to join the e bike revolution. Using the bike to work scheme, your company can purchase a brand new bike and safety equipment worth up to 1,000 tax free, for your employees. Thanks to ireland s cycle bike to work scheme, it has never been easier nor more costeffective to purchase a bike in ireland. The governments cycle to work scheme is a tax incentive offer aimed at encouraging paye employees to cycle to and from work.
Pay no interest, tax or national insurance on the salary sacrifice amount. The cycle to work scheme is a uk government initiative. You dont pay income tax, prsi or usc on the cost of your chosen bike package so can save up to 52% on the retail cost. Since the majority of people commute alone to work each day, electric bikes are ideal substitutes for using your car. Simply select your tax rate from the dropdown in our calculator, slide the value to match how much you think youll need to spend and your approximate savings appear like magic.
Bikes4work from one4all is a staff benefit that allows employers and employees to take advantage of the government cycle to work scheme, offering taxfree bikes and equipment up to the value of. Under the scheme employers can pay for bicycles and bicycle equipment for their. Glassdoor is your resource for information about the bike to work scheme benefits at bt. Items purchased under the scheme are not a taxable benefitinkind bik. Keep up to date with the cyclescheme ireland community. Bike 2 work scheme is the leading government cycle to work scheme, offering employees the chance to save up to 42% on a new bike. His ambition was to develop coyne cycles with his dedicated team to become irelands leading bicycle and outdoor product retailer. Discounts available these are subject to terms and conditions. You can purchase any of our bikes and cycling equipment under this scheme. Here is a typical example of savings possible as both a basic rate taxpayer 20% and a higher rate taxpayer 41%. Under the scheme your employer can buy a bicycle and safety equipment for you. Here you will find bike maintenance tips, helpful articles and a whole lot more. Get started today and save up to 42% off a new bike.
On the employee section of this website we have posted a page hmrc market value clarification. Enter your details below to see how much you could save the calculator includes your ownership fee so there will be no additional fees to pay. Cyclescheme savings can vary but the great news is that our calculator offers very accurate. Using the cycle to work scheme, your employer can help you obtain a brand new bike and safety equipment worth up to 1,000. Find out how much you can save on the cycle to work scheme. Actual savings will depend on each individuals personal circumstances. Bike to work ltd offers employers a totally free service to help you take advantage of the government initiative offering tax free bikes for work. Normal clothing is fine as long as your bike is properly equipped. The government cycle to work scheme is a tax incentive scheme which encourages employees to leave the car at home and cycle to work. E bikes are growing in popularity, and its not hard to see why after all, who wouldnt want some free speed to take the sting out of any ride. First, the company signs up with bikes4work to offer its staff access to irelands widest selection of retailers. Are you a company or organisation that want to introduce your staff to the cycle to work scheme.
Here at the bike institute we offer further discounts for organisations who want to partnership with our store. Under the scheme an employer can pay for a new bicycle including bicycle accessories and the employee then repays the cost in regular installments from their gross salary. Cyclescheme offers a great choice of bikes and equipment as they are partnered with over 1,840 independent bike shops throughout the uk. A government scheme to encourage people to cycle to work came into force on january 1 st 2009.
This explains how, following recent announcements by hmrc. Under this scheme an employer is allowed to incur the expense of providing an employee with a new bicycle and bicycle safety equipment without the employee being liable for benefitinkind taxation. We can work it out want an estimate of how much you could save by availing of the bike to work scheme. Benefits to employees makes paying for a new bike and accessories easier. Learn about bt bike to work scheme, including a description from the employer, and comments and ratings provided anonymously by current and former bt employees. Under the scheme employers can pay for bicycles and bicycle equipment for their employees and the employee pays back through a. The cycle to work scheme allows you to purchase new bicycles and safety equipment for your employees. The scheme is run via a salary sacrifice meaning you wont pay tax or national insurance this can save you up to 42% on your new bike and accessories. Home help contact cyclescheme ireland contact cyclescheme ireland if youve got a question about participation in the cycle to work scheme as an employer or employee please read our frequently asked questions. The cycleto work scheme was launched by the government in 2009 to encourage the use of bicycles to travel to and from work. Cycle to work scheme northern ireland home facebook. Simply choose a bike from one of our partner bike shops along with your safety accessories, and peddle away on a bike at a fraction of its original cost with interest free credit. With rideto work, you can get a taxfree bike, which for most people means they save a minimum of 32% of the cost. Encourage a healthier workforce, and reduce your tax bill.
The aims of the scheme are to encourage staff to cycle to work for both environmental and health reasons. We are an independent company based in the uk and ireland, set up to facilitate thousands of employers to administer the scheme supplying bikes to employees through a nationwide network of independent bike shops. Welcome to bike to work, ireland s number one cycle to work scheme provider, helping thousands of employers to administer the scheme using ireland s largest nationwide network of over 350 independent bike shops. The cycle to work scheme generally known as the bike to work scheme is a tax incentive scheme to encourage employees to cycle to work. Cycle scheme is the leading cycle to work scheme and an easy way to get a bike tax free and by paying through your monthly salary, its easy to afford. The scheme allows for a civil or public service employer to incur the expense of providing an officer with a bicycle and bicycle safety equipment up to a limit of 1,000, without the officer being liable for benefitinkind taxation. Cycle to work scheme hse staff benefits and services. Under the scheme employers can pay for bicycles and bicycle equipment for their employees and the employee pays back through a salary sacrifice arrangement of up to 12 months. Cycle to work the bike institute bike to work today. If you change work or retire before paying for your bike in full, you will have to check with your current employers how much is left to pay and settle the full outstanding balance before the date of ceasing employmentretirement. Under the governments cycle to work scheme, bicycles and safety equipment up to the value of can be. All the most common questions to do with administering your cyclescheme account are answered in the employers section, especially under about the scheme and employer faqs if there is anything else you need help with, please contact one of our employer account managers for help. If so, you need to click on the link in the email they sent you for full details of the scheme.
Welcome to the electricbike to work scheme electric bicycles are the ideal mode for personal transportation. This scheme aims to encourage you to cycle to and from work. The cycle to work scheme can be used every 5 years. Find out how you much you could save on a brand new bike with our cycle2work scheme calculator. Download our partner store brochure or for more info, or. We answer the key information you might need to know so that you can participate in. Office of government procurement cycletowork scheme. The savings you will make may vary depending on your tax credits, reliefs, and exemptions. You can use this to set up a cycle to work scheme to encourage employees to travel to and from work by bike. Cycle superstore are bt ireland s bike to work scheme partner, providing a wide choice of bikes and accessories for all the bt staff who avail of the scheme. By availing of the cycle to work benefit with cyclesheme you can get 1 bike andor selected safety equipment up to the value of 1,000. The cycle to work scheme is a government initiative to encourage alternative travel and.
Similar to the travel pass scheme see tax instruction 5. Coyne cycles was born when owner anthony coyne bought his first bike at 15 years old, sprayed it, serviced it and sold it. Every electric bike is one less carditch the car and make your commute cheap and easy. The cycle to work scheme is a tax incentive scheme which aims to encourage employees to cycle to and from work. In this employees section you can estimate the savings you could make on a bike or and find answers to frequently asked questions make an enquiry. Cycle to work scheme hse staff benefits and services hse. Welcome to bike to work, irelands number one cycle to work scheme provider, helping thousands of employers to administer the scheme. This reduced cost is simply deducted out of your payslip over 12 or 18 months, so no need to worry about large oneoff costs. Bike to work s scheme remains an attractive benefit for all those involved. Cycle superstore regularly visit our offices to provide demonstrations, showcasing a varied selection of new bikes on display. Employer enquiry form download brochures employer faqs. You dont need to look like a racer for the journey to work. Use the cyclescheme savings calculator to get an idea of how much you might save.
Bike2work road mtb tri commuting bikes cycle to work. Get a new bike and accessories through the cycle to work scheme and save between 32% and 42%. The cycle to work scheme is a tax exemption initiative aimed at promoting healthier journeys to work. If your organisation has not registered yet with biketowork you can make an enquiry and we will contact your company to set up an account. Cyclescheme savings can vary but the great news is that our calculator offers very accurate savings forecasts.
282 380 17 228 1193 947 1558 588 34 193 704 1198 1210 1351 1421 928 41 63 1058 1199 288 1222 1342 342 1479 814 996 1384 347 876 360 266 74 32 1392 606 368 739 1112 312